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China : ICBC Fully Supports the Coordinated Development of Beijing-Tianjin-Hebei.

In recent years, by focusing on Chinas strategic plan to coordinate development of Beijing-Tianjin-Hebei, ICBC has been engaged in key projects related to real economy and peoples living standards such as Beijing Administrative Sub-Center, the new airport and the airport economic zone, Beijing-Tianjin-Hebei intercity rail and highway, 2022 Winter Olympic Games, non-capital function relief, as well as industrial upgrading and transfer. ICBCs funding support has boosted the integration of Beijing-Tianjin-Hebei.

According to an official with ICBC, to support the coordinated development of Beijing-Tianjin-Hebei , ICBC Head Office set up a leading group of financial support in early 2015, established a coordination mechanism between Head Office and branches and among regions, and developed regional credit policy exclusive for Beijing-Tianjin-Hebei integration. Through integrated services combining commercial banking with investment banking, full-suite support has been provided to key areas including Beijing-Tianjin-Hebei transport integration, industrial upgrading and transfer, ecological environment protection and urban function optimization .

In supporting Beijing-Tianjin-Hebei transport integration, as the largest financing bank in this field, ICBC has provided financial support for key projects including Beijing-Shenyang Passenger Line (Beijing-Hebei section), Beijing-Zhangjiakou Intercity Railway, Beijing-Tangshan Intercity Railway, Beijing-Binhai Intercity Railway, Tianjin-Baoding Railway, reconstruction and expansion of Peking-Hong Kong-Macao Highway, Beijing-Daxing International Airport and Cangzhou Port, which has helped optimize Beijing-Tianjin-Hebei traffic condition. For example, the Beijing-Taibei Highway (Beijing section) supported by ICBC loans, open to traffic from the end of 2016, allows for 20 minutes to arrive in Hebei in case of no traffic jams, becoming the fastest highway from Beijing to Hebei, and the third road from Beijing to Tianjin, which helps divert vehicles from Beijing-Shanghai highway and Beijing-Tianjin highway. In addition, a ramp through the Beijing-Taibei Highway can be connected to the north line of Beijing-Daxing International Airport, serving as a distribution road at the east of the new airport.

In supporting Beijing-Tianjin-Hebei industrial upgrading and transfer, ICBC is the first financial institution to launch loan products aimed at easing non-capital functions and renewing cities. The Bank promptly responded to key areas such as the construction of Beijing City Sub-Center, renovation of shantytowns, traffic integration and industrial transfer. In Baoding, Hebei Province, ICBC worked with Hebei Xinfadi Agricultural Products Co., Ltd. By providing thorough financial support for the construction of the cold-chain logistics park, purchase of transport vehicles, and to merchants of the wholesale market. In addition, ICBC has strengthened synergy between commercial banking and investment banks as well as innovation in capital market financing business. The Bank funded the establishment of the Beijing-Tianjin-Hebei coordinated development fund and invested RMB 8 billion in founding of the Beijing-Tianjin-Hebei intercity railway fund.

In supporting ecological environment protection, ICBC strictly implements the green credit policy, actively supports projects such as joint control of atmospheric PM2.5 pollution, reduction and reorganization of iron and steel enterprises, energy saving and emission reduction of energy and chemical industries, recycling of renewable resources and water source protection, with the aim to make the Beijing-Tianjin-Hebei region a green-credit showcase of the Bank. For example, it has supported the key clean energy project State Grid Xinyuan Zhangjiakou Wind-Solar-Storage Demonstration project to accelerate the development of clean energy in the region. Besides, it provided financing for the Winter Olympics project - the renewable energy demonstration zone in Yanghe, Zhangjiakou City to promote the use of renewable energy. In addition, ICBC has invested in Beijing and Tongzhou Water Environment Fund, which is set up by the Beijing Enterprises Water Group Limited with a value of RMB 10 billion, to support water environment control in Beijing City Sub-Center and the Beijing-Tianjin-Hebei region. ICBC has also provided loans to public transport companies in Pinggu District and Daxing District of Beijing to substitute new energy buses and drive air pollution control.

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Publication:Mena Report
Geographic Code:9CHIN
Date:Apr 4, 2017
Words:627
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